{"data":{"id":"us-ky/krs-286.13-080","jurisdiction":"us-ky","citation":"KRS 286.13-080","heading":"Books, accounts, and records.  (Effective April 30, 2027)","body":"(1) Each virtual currency kiosk operator and its agents shall:\n(a) Maintain the books, accounts, and records of its virtual currency kiosk\nbusiness activities in this state that are req uired under subsection (2) of this\nsection; and\n(b) Keep the books, accounts, and records referenced in paragraph (a) of this\nsubsection for:\n1. A period of time determined by the commissioner in an administrative\nregulation promulgated in accordance with KRS Chapter 13A; or\n2. For a period that is longer than the period referenced in subparagraph 1.\nof this paragraph if required by:\na. Other state or federal law; or\nb. The commissioner to resolve any examination, investigation, or\nclaim.\n(2) The following books, accounts, and records shall be maintained:\n(a) For each virtual currency kiosk transaction:\n1. The amount, date, and precise time of the transaction;\n2. Any payment instructions for the transaction;\n3. The total amount of virtual currency kiosk charges received by and paid\nto the virtual currency kiosk operator or agent, including any virtual\ncurrency kiosk charges received on behalf of the operator or agent;\n4. The exchange rate of the virtual currency to the United States dollar; and\n5. The names, account numbers, and physical addresses of the parties to\nthe transaction;\n(b) A general ledger containing all assets, liabilities, ownership equity, income,\nand expense accounts;\n(c) Bank statements and bank reconciliation records;\n(d) Any receipts, statements, and valuations provided to virtual currency kiosk\nusers and account holders;\n(e) Records or minutes of meetings of the board of directors or an equivalent\ngoverning body of the virtual currency kiosk operator or agent;\n(f) Records demonstrating compliance with applicable state and federal anti -\nmoney laundering laws, including virtual currency kiosk user and account\nholder identification and verification documents, records linking virtual\ncurrency kiosk u sers and account holders to their respective accounts and\nbalances, and a record of any compliance breaches;\n(g) Communications and documentation related to:\n1. Investigations of virtual currency kiosk user and account holder\ncomplaints; and\n2. Transaction error resolutions;\n(h) The policies required under KRS 286.13-095; and\n(i) Any other books, accounts, or records that are required by the commissioner\nin an administrative regulation promulgated in accordance with KRS Chapter\n13A for determining whether a  virtual currency kiosk operator or agent is in\ncompliance with this subtitle, including whether an operator or agent is in\ncompliance with any administrative regulation promulgated, or order issued,\nunder this subtitle.\n(3) The books, accounts, and record s that are required to be maintained under this\nsection:\n(a) May be maintained in any electronic format consistent with the virtual\ncurrency kiosk operator's or agent's ordinary business practices unless the\noperator or agent receives specific written inst ructions from the commissioner\nto the contrary;\n(b) Shall be maintained separate and apart from any other business in which the\nvirtual currency kiosk operator or agent is involved;\n(c) Shall be kept at the virtual currency kiosk operator's or agent's prin cipal office\nor an office located in this state unless otherwise permitted in writing by the\ncommissioner; and\n(d) Shall be made available for review or examination at a nonresidential location\napproved by the commissioner.\n(4) Books, accounts, or records of any person described in this section may be\nmaintained at a location outside of this state so long as they are made accessible to\nthe commissioner upon seven (7) business days' written notice.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58291","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:16Z","sha256":"585a46adca7b3b1d18159cd4c95f4c4520bc659484c61dd7cf517287a5b14ac4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.13-075","next":"us-ky/krs-286.13-085"},"notice":"GroundRules: Original legal text. Not legal advice."}